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    Author Topic: Bring bitcoin into high end/special sales  (Read 1473 times)

    • johnyj (OP)
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    June 08, 2013, 09:44:00 PM
     #1
    Because of the existing of fiat money, even if every merchant accept bitcoin, it still does not make it popular, since the typical people don't have bitcoin and there are lots of hassle to get it

    To increase the interest of bitcoin, there must be some products exclusively sold only for bitcoin, and those products should be in the high end segment. In this way, some specific consumer will try to get bitcoin, that will make bitcoin a little bit special

    I'm implementing this idea in my business now: For most of my products, I accept both bitcoin and fiat payment, but for some special product of very high quality, I only accept bitcoin exclusively. In this way, my normal sale will not be affected, and some user would still have motivation to use bitcoin

    Hign end does not necessarily mean expensive, but it should be unique and special, with limited supply, like anniversary edition, collector's edition etc... People who are interested in these special products will try their best to get bitcoin
    Why bitcoin will appreciate forever: https://bt.irlbtc.com/view/277275.msg3244038#msg3244038

  • threeip
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    June 08, 2013, 10:05:05 PM
     #2
    Problem is that Mercedes/Prada/whoever* need $$$ to pay their bills?

    If all diamonds producers only accepted bitcoin there would be more demand for the currency, but also more incentive for 'elites' to keep it away from the peons.

    *insert whatever 'luxury' means to you Smiley
    ส็็็็็็็็็็็็็็็็็็็็็็็็็ GPG:2AFD99BB ಠ_ಠ mon

  • johnyj (OP)
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    June 08, 2013, 10:22:35 PM
     #3
    Quote from: threeip on June 08, 2013, 10:05:05 PM
    Problem is that Mercedes/Prada/whoever* need $$$ to pay their bills?

    If all diamonds producers only accepted bitcoin there would be more demand for the currency, but also more incentive for 'elites' to keep it away from the peons.

    *insert whatever 'luxury' means to you Smiley

    Mercedes could sell most of their cars for EURO, but their Mclaren SLR could only accept bitcoin payment. Who are interested in Mclaren SLR will sure have enough patient for a transaction in bitcoin, and these type of customers are always thinking differently and have the ability to learn new things. And for Mercedes, it doesn't affect their sales, since Mclaren SLR won't make the majority of their sales anyway, even the bitcoin price crashed, their loss is very limited

    Due to the technical challenge in using bitcoin, it only suits those people with IT/Finance knowledge, and these people typically also have special demand. I never believed that bitcoin will replace fiat money, but if you find the right market segment, it will flurish. As a currency of highest credit rating, it deserves to serve the high end customers
    Why bitcoin will appreciate forever: https://bt.irlbtc.com/view/277275.msg3244038#msg3244038

  • Stephen Gornick
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    June 09, 2013, 12:38:41 AM
    Last edit: June 10, 2013, 09:37:57 PM by Stephen Gornick
     #4
    Quote from: johnyj on June 08, 2013, 09:44:00 PM
    To increase the interest of bitcoin, there must be some products exclusively sold only for bitcoin, and those products should be in the high end segment. In this way, some specific consumer will try to get bitcoin, that will make bitcoin a little bit special

    I'ld love to see some sought after product or service be offered with the only payment being Bitcoin.   For instance, if there was some event that has sold out except for a block of tickets that can only be purchased with bitcoins -- that would cause many to enter their first bitcoin transaction.

    I opened a Question on Bitcoin StackExchange as a place to aggregate these exclusive to Bitcoiner deals:
     - http://bitcoin.stackexchange.com/questions/11546
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  • franky1
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    June 09, 2013, 03:25:17 AM
     #5
    id love to see the top guys of industry who want bitcoins. offer their services/products instead of investing their profits in bitcoin

    EG imagine bill gates sell microsoft products for bitcoins. instead of selling them for fiat and then using his FIAT profit to buy bitcoin

    imagine richard branson offer airline/rail tickets, holiday reservations, music and dvd's for bitcoin. instead of using their fiat profit to buy bitcoin.

    i think all of the big investors who own businesses should no longer just buy bitcoins. but to trade their products for bitcoin to get their investment requirements.

    the problem is that bitcoin seems to still be for the basement dweller crowd or the 'teentrepreneurs' (teenage entrepeuners)
    that are starting up new stuff, without past/high reputation to help them become the next big thing.

    even places like walmart should get their main CEO to offer online ordering bitcoin payment options. and then offer to sell those bitcoins to their staff (to get reimbursed) or keep as bitcoin for the CEO's own personal investment fund
    I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
    Please do your own research & respect what is written here as both researched opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at

  • johnyj (OP)
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    June 10, 2013, 12:24:25 PM
     #6
    For example in gaming/PC hardware market, special/collector's edition of games, top graphic cards, highest performance gears etc...

    Since the amount of sale for those special products are small, it will not affect existing sale too much, but it will have some promotion effect and give bitcoin a positive image of enthusiast, special, high end payment medium
    Why bitcoin will appreciate forever: https://bt.irlbtc.com/view/277275.msg3244038#msg3244038

  • cr1776
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    June 10, 2013, 02:25:21 PM
     #7
    That is a good idea. The Rolling Stones or Justin Beiber or ...

    Quote from: Stephen Gornick on June 09, 2013, 12:38:41 AM

    I'ld love to see some sought after product or service be offered only with bitcoins.   For instance, if there was some event that has sold out except for a block of tickets that can only be purchased with bitcoins -- that would cause many to enter their first bitcoin transaction.

    I opened a Question on Bitcoin StackExchange as a place to aggregate these exclusive to Bitcoiner deals:
     - http://bitcoin.stackexchange.com/questions/11546

  • ex-trader
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    June 10, 2013, 04:19:07 PM
     #8
    You are missing the point.

    Bitcoin will succeed only if there is a compelling reason why using it is better to using the alternatives, not by trying to create situations that force people to use it.

  • BitAddict
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    June 10, 2013, 04:30:55 PM
     #9
    Quote from: johnyj on June 08, 2013, 09:44:00 PM
    Because of the existing of fiat money, even if every merchant accept bitcoin, it still does not make it popular, since the typical people don't have bitcoin and there are lots of hassle to get it

    To increase the interest of bitcoin, there must be some products exclusively sold only for bitcoin, and those products should be in the high end segment. In this way, some specific consumer will try to get bitcoin, that will make bitcoin a little bit special

    I'm implementing this idea in my business now: For most of my products, I accept both bitcoin and fiat payment, but for some special product of very high quality, I only accept bitcoin exclusively. In this way, my normal sale will not be affected, and some user would still have motivation to use bitcoin

    Hign end does not necessarily mean expensive, but it should be unique and special, with limited supply, like anniversary edition, collector's edition etc... People who are interested in these special products will try their best to get bitcoin

    I love the idea. But this is also true.

    Quote
    You are missing the point.

    Bitcoin will succeed only if there is a compelling reason why using it is better to using the alternatives, not by trying to create situations that force people to use it.

    Also people will start using bitcoin if you give them discount paying with it. But it is hard to do, unless you buy your stock with bitcoins.

  • johnyj (OP)
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    June 10, 2013, 04:57:29 PM
     #10
    Quote from: ex-trader on June 10, 2013, 04:19:07 PM
    You are missing the point.

    Bitcoin will succeed only if there is a compelling reason why using it is better to using the alternatives, not by trying to create situations that force people to use it.

    Actually fiat money is spreaded by created situations: Salary handed out by goverment and enterprises who took fiat loan from banks, and banks give you credit card to encourage your spending

    If people can get their salary in bitcoin's form, they might spend it, but it seems not practical. Due to bitcoin's limited supply nature, people will always spend inflative fiat money and hoard the deflative bitcoin, so bitcoin will not be constantly spent without some special motivation

    International travellers might find some benefit of bitcoin, but unless you need to buy a car or a house abroad, today's VISA/Master Card also work well in most of the countries, and they even provide buyer protection and insurance
    Why bitcoin will appreciate forever: https://bt.irlbtc.com/view/277275.msg3244038#msg3244038

  • ex-trader
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    June 10, 2013, 05:57:49 PM
     #11
    Quote from: johnyj on June 10, 2013, 04:57:29 PM

    International travellers might find some benefit of bitcoin, but unless you need to buy a car or a house abroad, today's VISA/Master Card also work well in most of the countries, and they even provide buyer protection and insurance

    No way I'd buy anything of high value using BTC, if the money started in Fiat. If you're doing decent transaction sizes the costs of international transfers are relatively small and the risk of BTC price volatility is too large in comparison.

    That is my point reallly. I like Bitcoin from a mathematical/technical/intellectual point of view and I bought some to make money and have done well trading them and buying ASICMiner shares, but as someone who does a lot of international transactions, owns assets/businesses in several countries and currencies and also buys a lot from the internet, I've yet to find a single situation where there was an obvious real advantage in using Bitcoin for payments, hence I never have.

  • spiral_mind
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    June 10, 2013, 06:41:36 PM
     #12
    Once the exchange rate of Bitcoin bottoms out it will actually make a ton of sense for businesses that believe in the future of Bitcoin to accept it.

    Right now we are in a precarious position where the price very well could drop to half of what it is right now. Given the huge surge in interest in BTC since January I highly doubt it will go below about $40 each.

    See that story about the fertility clinic that sold services in BTC when they were worth 5 dollars each and made 3.6x what he would have otherwise, even after offering a 50% discount for paying in BTC.

  • ex-trader
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    June 10, 2013, 07:32:44 PM
     #13
    Quote from: spiral_mind on June 10, 2013, 06:41:36 PM
    Once the exchange rate of Bitcoin bottoms out it will actually make a ton of sense for businesses that believe in the future of Bitcoin to accept it.

    Right now we are in a precarious position where the price very well could drop to half of what it is right now. Given the huge surge in interest in BTC since January I highly doubt it will go below about $40 each.

    See that story about the fertility clinic that sold services in BTC when they were worth 5 dollars each and made 3.6x what he would have otherwise, even after offering a 50% discount for paying in BTC.

    Decisions to speculate on BTC value are separate from selling goods at a profit. They could equally have sold the services at full price and bought BTC and made twice as much money. That story just shows how volatile BTC is and how they still think in Fiat. They were just lucky -the story wouldn't have been so good if BTC had gone down to 1/3rd of the price they offered......

    Right now there's also business happy to take a bit of BTC risk just to gain the publicity.

  • Stephen Gornick
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    June 10, 2013, 09:57:38 PM
     #14
    Quote from: ex-trader on June 10, 2013, 04:19:07 PM
    Bitcoin will succeed only if there is a compelling reason why using it is better to using the alternatives, not by trying to create situations that force people to use it.

    ... said no marketing professional ever.
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  • johnyj (OP)
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    June 10, 2013, 10:07:33 PM
     #15
    Quote from: ex-trader on June 10, 2013, 07:32:44 PM

    Decisions to speculate on BTC value are separate from selling goods at a profit. They could equally have sold the services at full price and bought BTC and made twice as much money.


    By accepting bitcoin, they avoided all the hassle of buying coin from exchanges Wink

    I don't think there is any problem for merchant to accept bitcoin payment, the problem is on the user side. Unless average joe could find a easy way (and strong motivation) to get coin, it will just like WOW gold, only a certain kind of people will be interested. But if all bitcoin-accepting-merchant have some kind of general consensus that a special part of their sales only go for bitcoin, that will make some difference
    Why bitcoin will appreciate forever: https://bt.irlbtc.com/view/277275.msg3244038#msg3244038

  • BitAddict
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    June 11, 2013, 12:02:48 AM
     #16
    Quote from: johnyj on June 10, 2013, 10:07:33 PM
    Quote from: ex-trader on June 10, 2013, 07:32:44 PM

    Decisions to speculate on BTC value are separate from selling goods at a profit. They could equally have sold the services at full price and bought BTC and made twice as much money.


    By accepting bitcoin, they avoided all the hassle of buying coin from exchanges Wink

    I don't think there is any problem for merchant to accept bitcoin payment, the problem is on the user side. Unless average joe could find a easy way (and strong motivation) to get coin, it will just like WOW gold, only a certain kind of people will be interested. But if all bitcoin-accepting-merchant have some kind of general consensus that a special part of their sales only go for bitcoin, that will make some difference


    But you need to sell something really exclusive, they can't find in any other shop.

    If I go to buy one nice ring for my wife and they tell me I need to buy it with gold of WOW, Linden Dollar or Zimbabwe dollar I will probably tell WTF!, and I will just go to another shop and buy the same ring with cash.

    And nowadays is really hard something exclusive unless you make it yourself.

  • johnyj (OP)
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    June 11, 2013, 11:16:53 AM
    Last edit: June 11, 2013, 11:33:11 AM by johnyj
     #17
    Quote from: BitAddict on June 11, 2013, 12:02:48 AM

    But you need to sell something really exclusive, they can't find in any other shop.

    If I go to buy one nice ring for my wife and they tell me I need to buy it with gold of WOW, Linden Dollar or Zimbabwe dollar I will probably tell WTF!, and I will just go to another shop and buy the same ring with cash.

    And nowadays is really hard something exclusive unless you make it yourself.

    Ture, for normal trading companies this is not practical, but for producers this is possible. Avalon mining rig for example sold exclusively for bitcoin, there should be many other producers attracted by this idea, this will increase the income they get from the sale
    Why bitcoin will appreciate forever: https://bt.irlbtc.com/view/277275.msg3244038#msg3244038

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    June 12, 2013, 12:53:58 AM
     #18
    Quote from: johnyj on June 11, 2013, 11:16:53 AM
    Quote from: BitAddict on June 11, 2013, 12:02:48 AM

    But you need to sell something really exclusive, they can't find in any other shop.

    If I go to buy one nice ring for my wife and they tell me I need to buy it with gold of WOW, Linden Dollar or Zimbabwe dollar I will probably tell WTF!, and I will just go to another shop and buy the same ring with cash.

    And nowadays is really hard something exclusive unless you make it yourself.

    Ture, for normal trading companies this is not practical, but for producers this is possible. Avalon mining rig for example sold exclusively for bitcoin, there should be many other producers attracted by this idea, this will increase the income they get from the sale

    Of course all the ASIC rigs should be sold always in BTC. Even if they need to use bitpay to take cash.
    But accepting cash like butterfly is not understanding bitcoin... or not caring.

  • atomium
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    June 12, 2013, 01:52:34 AM
     #19
    what kind of products do you currently sell johnyj?

  • johnyj (OP)
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    June 14, 2013, 12:38:05 PM
     #20
    Quote from: glassuser on June 12, 2013, 01:52:34 AM
    what kind of products do you currently sell johnyj?

    Both professional services and special tools for specific use
    Why bitcoin will appreciate forever: https://bt.irlbtc.com/view/277275.msg3244038#msg3244038
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